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Contracts signed last April for virtually no money and nothing done until Mr Ezpeleta discovered it.
The predecessors also named a circuit that is in liquidation (in another series as well), just as they did with Donington leading up to the 2010 season, then had to go cap in hand to Silverstone.
The writing was on the wall 2 years ago, even though the economists on this site insisted that it was the leading light and taking over.
I am sure it would have been solved by dipping quietly into reserves and handing it to the right people. Does anybody really need more evidence as to why ISM wanted shut of IMS?